Like many of you, I managed my own finances for several years thinking that I could save a few bucks by not hiring a financial planner. But could you blame me? I was 23, new to the Big Apple, just trying to survive week to week and keep any discretionary income I had in my pocket so that I could enjoy a little taste of this sleepless city.

I was consistently saving in a high-yield savings account and contributing to my 401(k). I thought that was good enough, but as I started covering personal finance at Black Enterprise and interviewing people my age and younger who were much further along in their finances, I grew curious as to how they did it.

Many had family members who showed them how to invest or bought them stock as children, while others shared with me that upon graduation instead of getting a car or having a big party, their families paid for a one-hour session with a financial planner (a gift that I will be giving my brother who is a recent college graduate. Congrats Huskies!)

Advertisement

Having that individualized and personalized investment advice gave them a leg up. They were further along in retirement savings, personal savings, and were already investing in stocks and ETFs. I knew that it was time to take my finances to the next level, but I needed help getting there.

Read More: http://www.blackenterprise.com/money/hiring-financial-planner-to-fix-your-finances/

BlackEnterprise.com is the premier business news and investment resource online for African American business owners and aspiring entrepreneurs